BACKSTORY: Zupta protester James Gubb on THAT R100k fine: 'I was an easy target'

Loading player...
JOHANNESBURG — On March 31, 2017, it took the Johannesburg Stock Exchange (JSE) just over 20 minutes to swoop in and halt veteran stock market trader James Gubb's curious 22 trades in highly illiquid Gupta-owned Oakbay. But by that time, Gubb had achieved what he wanted. On a chart, his trades depicted what would resemble a middle finger to the Zuptas. The timing of Gubb's unique protest art was pertinent as it came a day after President Jacob Zuma pulled the trigger and fired respected Finance Minister Pravin Gordhan on March 30. The R400 trades in Oakbay have become a costly affair for Gubb as the JSE reported the matter to the Financial Services Board (FSB) which, in turn, fined him a whopping R100 000 for his harmless protest. Gubb has been transparent and open about his innocent trades as well as the intention to create his world-first protest art. But the FSB and JSE clearly don't have a sense of humour. This has backfired spectacularly in their faces as public support has grown for Gubb who has become a hero in many South Africans' eyes. Here is an interview with Gubb in which he tells the backstory of his inventive and artistic Oakbay trades... - Gareth van Zyl Learn more about your ad choices. Visit megaphone.fm/adchoices
6 Nov 2017 7AM English South Africa Investing · Business News

Other recent episodes

BN Daybreak: Apple earnings; Amazon AWS; RMB housing; Anglo’s SA exit; Tesla China sale

Today's BizNews Daybreak covers Apple's quarterly results, Rivian's SUV success, and Anthropic's AI breach, alongside a semiconductor rally driven by Microsoft and Oracle. Football federations oppose FIFA selling World Cup stakes, while Donald Trump claims a Gaza disarmament agreement. Meanwhile, Alec Hogg discusses Anglo American’s South Africa exit, RMB launches…
30 Jul 11PM 14 min

Cityboy: How psychopaths win big in business, politics - but lose in life

A former top-ranked City of London stockbroker has written a manual for winning at business, politics and life. There's just one catch: to follow it, you'd have to think like a psychopath. Geraint Anderson, the man behind the legendary "Cityboy" column, tells BizNews editor Alec Hogg why he built his…
30 Jul 9AM 32 min

R1-billion blended finance programme to transform real estate

In this interview with Chris Steyn, Alessandro Scalco of RMB Sustainable Finance shares the details of a R1 billion Blended Finance Programme to formalise and scale South Africa’s burgeoning affordable rental market. Rand Merchant Bank (RMB) has partnered with INDLU, a property financial technology company that empowers landowners to build,…
30 Jul 6AM 15 min

BN Daybreak: Ramaphosa interdict bid; Fed holds rates; Fauci's Fifth Amendment; Zambian kwacha

In today's episode, the Fed leaves interest rates unchanged amid a fractured vote and market sell-offs. Locally, four parties are challenging President Ramaphosa's impeachment interdict, while Treasury controversially releases funds to 69 failing municipalities. We also cover Dr. Fauci invoking the Fifth Amendment regarding the Covid-19 response, Zambia's kwacha surging…
29 Jul 11PM 16 min